FOREX TECHNICAL ANALYSIS
Major
Currency
Pairs
September
6,
2010
Current level - 1.2897
EUR/USD is in a downtrend, after peaking at 1.5146 (Nov.25,2009).
Technical indicators are descending, and trading is situated below the
50-
and 200-Day SMA, currently projected at 1.3458 and
1.4206.
The pair reached 1.2920 resistance and there are no clear signs of a
reversal so far, so while 1.2854 support is intact the uptrend will aim
at 1.2960 before sell-off for 1.2475. Important intraday support is
seen at 1.2854, followed by the crucial 1.2805.
| resistance |
| intraday |
intraweek |
| 1.2920 |
1.3080 |
| 1.2970 |
1.3335 |
|
| support |
| intraday |
intraweek |
| 1.2845 |
1.2587 |
| 1.2770 |
1.2470 |
|
September
6,
2010
Current level - 84.14
The pair is in a broad consolidation
above 84.78 short-term low.
Trading is situated below the 50- and 200-day SMA, currently
projected at 92.60 and 91.06.
As expected, the rebound above 83.60 broke through 84.70 and sharply
reversed at 85.22 initiating a downtrend for 82.50. The intraday bias
is negative for 83.70 with a crucial level at 84.49.
| resistance |
| intraday |
intraweek |
| 84.50 |
88.10 |
| 86.50 |
93.50 |
|
| support |
| intraday |
intraweek |
| 83.70 |
82.50 |
| 83.59 |
79.60 |
|
September
6,
2010
Current level - 1.5421
The pair is in an uptrend after bottoming at 1.4226. Trading is
situated above the 50- and 200-day SMA, currently projected at 1.4986
and 1.5539.
We still favor the idea, that the resistance area around 1.5490 will
cap the upside and will provoke a sell-off for a break through 1.5330,
en route to 1.5118. Important on the downside is 1.5350.
| resistance |
| intraday |
intraweek |
| 1.5490 |
1.5712 |
| 1.5576 |
1.6000 |
|
| support |
| intraday |
intraweek |
| 1.5350 |
1.5118 |
1.5330
|
1.4810 |
|
Stoyan Mihaylov, a Financial Analyst at Deltastock, has an eight-year background
as a senior FX Dealer, trading spot and outright forwards. Since May 2006, Stoyan
has been providing daily, weekly and mid-term analyses on the Foreign Exchange Market.
He has also been reading lectures on FX Fundamental and Technical Analyses in major
Bulgarian Universities. Stoyan Mihaylov has graduated MBA in the University of Economics
– Varna, Bulgaria.
European Union Regulated Broker © 1999-2010 DELTASTOCK AD - Sofia 1000, 6 Stefan Stambolov Blvd., phone +359 2 811 50 50, +359 700 18 180; office@deltastock.com;
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